Micro, small, and medium enterprises in emerging economies and economic transition: a comparative study between Indonesia and Hungary Online publication date: Fri, 28-May-2021
by Johan Tumiwa; Adrián Nagy
International Journal of Entrepreneurship and Small Business (IJESB), Vol. 43, No. 1, 2021
Abstract: It is necessary to foster and strengthen micro, small, and medium enterprises (MSMEs) to enhance their growth and develop them as strong, resilient, efficient, and independent contributors to the national economy. The purpose of this study is to analyse and compare the influence of MSME growth on the economic growth of an emerging economy (Indonesia) and an economy in transition (Hungary). This study uses secondary data, which are transformed into logarithms. Based on panel data regression analysis, this research finds that there is a significant influence of MSMEs and employment on economic growth in both countries. In the Hungary regression model, the MSME variable has a partial negative influence on economic growth due to political and economic influences. This study has two recommendations. First, Hungarian and Indonesian Government interventions are needed to develop MSMEs. Second, the Indonesian Government should reduce energy subsidies.
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